TransFICC launches RFQ automation for D2C venues

Rick Steves

“Our auto-negotiation service provides the code, support, and security out of the box.”

The bank only needs to provide a customer price, while TransACT manages all other aspects of the RFQ negotiation.

TransFICC has announced the launch of TransACT, a new service designed to automate Request for Quote (RFQ) negotiation workflows for banks active in Dealer-to-Client (D2C) venues.

D2C trading venues present a challenge due to their support of multiple, distinct RFQ negotiation workflows. Such diversity complicates the development of automated systems for responding to customer RFQs, which requires extensive mapping, coding, testing, and maintenance.

Enter TransACT, a solution that alleviates the burden by automating the negotiation process, where the bank only needs to provide a customer price, while TransACT manages all other aspects of the RFQ negotiation.

“Code, support, and security out of the box”

Judd Gaddie, Co-Founder of TransFICC, said: “Our auto-negotiation service provides the code, support, and security out of the box. The only bank requirement is to have a Pricer, meaning the service can quickly go live. What used to take months or years for a bank to deploy has been reduced to a few weeks.”

TransACT offers a hosted service that automates venue connectivity and negotiation workflows, requiring only a price stream and execute/reject instruction for each RFQ from the dealers. The service enables dealers to automate large portions of their Credit trading operations quickly and allows trading desks to concentrate on managing larger tickets and risk strategies.

The service is now available for use on major trading platforms such as MarketAxess, Tradeweb, Bloomberg, and TruMid for US Credit trading, with plans to expand to additional RFQ assets, including Interest Rate Swaps (IRS), later this year.

TransFICC launched eTrading for interest rate swaps and US credit

Last year, TransFICC launched an eTrading service that combines a hosted desktop GUI with Interest Rate Swaps venue and workflow integration, pricer API, server hosting, and secure connectivity.

The specialist provider of low-latency connectivity and workflow services for Fixed Income and Derivatives Markets developed the solution in response to banks asking for increased efficiency when managing Requests for Quotes (RFQs).

The eTrading service streamlines workflows by presenting traders with pop-up tickets to support outright, curve, and compression trades, with pricing fields automatically populated by internal pricing engines.

It is a plug-and-play solution that supports all Interest Rate Swaps workflows, provides full security and disaster recovery, and is quick to deploy, with the capability to install a new bank client with dedicated hosting in under two weeks.

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